Holiday Help: Identifying and Avoid Gift Card Scams

Gift card scams are a type of fraud that can cost you a lot of money. Scammers use various tactics to trick people into buying gift cards and giving them the codes. Once they have the codes, they can use them to make purchases or sell them on the black market. Here are some tips to help you identify and avoid gift card scams:

1. Be wary of unsolicited phone calls or emails: Scammers often use unsolicited phone calls or emails to trick people into buying gift cards. They may claim to be from a government agency, a utility company, or a tech support company. They may also threaten you with legal action or arrest if you don’t comply with their demands. If you receive an unsolicited phone call or email, be suspicious and don’t give out any personal information.
2. Don’t buy gift cards from untrusted sources: Scammers may sell gift cards on online marketplaces or social media platforms. These gift cards may be fake or stolen. If you buy a gift card from an untrusted source, you may lose your money and have no way to get it back.
3. Check the gift card for signs of tampering: Scammers may tamper with gift cards to steal the codes. They may scratch off the security code and replace it with a sticker that has a different code. They may also use a scanner to read the code and then replace the scratch-off material. Before you buy a gift card, check it for signs of tampering. Keep the receipt in case the gift card was compromised.
4. Report suspected gift card scams to the Credit Union: If you suspect that you have fallen victim to a gift card scam, contact us immediately. We can help you report the fraud and take steps to protect your account.

What to Do If You Fall Victim to a Gift Card Scam

If you fall victim to a gift card scam, here are some steps you can take to protect yourself:

1. Contact the Credit Union: Contact us immediately to report the fraud. We can take steps to protect your finances from further harm, including freezing your account (if necessary) to prevent further transactions.
2. File a complaint with the Federal Trade Commission (FTC): You can file a complaint with the FTC online or by phone. The FTC tracks fraud and shares information with law enforcement agencies.
3. Report the scam to the gift card issuer: If you bought the gift card from a reputable retailer, contact the retailer and report the scam. They may be able to refund your money or issue a new gift card.

How Peninsula Credit Union Protects You from Gift Card Scams

At Peninsula Credit Union, we take the security of our members’ accounts very seriously. Here are some of the measures we take to protect you from gift card scams:

1. Fraud detection systems: We have fraud detection systems in place that monitor transactions for suspicious activity. If we detect any unusual activity, we will contact you immediately to verify the transaction.
2. Education and awareness: We provide education and awareness materials to our members to help you identify and avoid gift card scams. We also offer tips on how to protect you personal information and accounts.

3. 24/7 monitoring: We monitor our members’ accounts 24/7 to detect and prevent fraud. If we detect any suspicious activity, we will take immediate action to protect your account.